Category: News

  • Singh’s Move: Can Trudeau Survive the Coming Vote of No Confidence?

    Singh’s Move: Can Trudeau Survive the Coming Vote of No Confidence?

    The future of Canadian Prime Minister Justin Trudeau is looking shaky. Jagmeet Singh, the leader of the New Democratic Party (NDP) and an important supporter of Trudeau, announced he plans to suggest a vote to remove the minority Liberal government. In a letter he shared on social media, Singh said the Liberals don’t deserve another chance. He believes it’s time for Canadians to vote for a government that will truly work for them.

    Singh said he will use a special day in the House of Commons to introduce this vote. Right now, Parliament is on a winter break and will start again on January 27. Singh’s announcement raises many questions about Trudeau’s future, especially since at least 21 Liberal MPs have called for him to resign, according to CBC News.

    Just recently, Trudeau faced more troubles after Chrystia Freeland, his deputy prime minister and finance minister, resigned shortly before giving an important economic update. Freeland left due to disagreements with Trudeau about how to deal with issues, like potential tariffs from the new US President, Donald Trump.

    Singh’s letter said the Liberals have not kept their promises and that change is needed now. This news comes as Trudeau just announced changes to his cabinet. Even though the NDP ended their cooperation with the Liberals a few months ago, they have still voted to support them when the Conservatives proposed votes to remove the government.

    Conservative leader Pierre Poilievre has been calling for an election to happen quickly. He commented that if Singh had voted with his party, Canadians would already be preparing for an election campaign. Poilievre also mentioned he is asking Governor General Mary Simon to bring Parliament back urgently for a non-confidence vote to end Trudeau’s leadership.

    Trudeau has not replied publicly to these calls for his resignation and has told party members he will take time over the holidays to think about his next steps.

  • Congress Boosts Social Security for Certain Retirees Amid Concerns”

    Congress Boosts Social Security for Certain Retirees Amid Concerns”

    On Saturday, Congress passed a new bill that will give more money to certain retired workers, like former police officers and firefighters. The Senate voted 76-20, and the House had already passed it with 327 votes in favor. Now it’s up to President Joe Biden to sign it into law.

    This bill will change rules that have been in place for over 20 years. These rules reduced benefits for people who also get public pensions. Many normal workers rely solely on Social Security and what they can save. In fact, only about 1 in 10 private workers have pension plans.

    The new law will help about 2.5 million retirees, which is around 3% of all Social Security recipients. Some of these retirees could see hundreds of dollars more added to their monthly Social Security checks.

    However, some experts warn this could hurt the program’s finances. They estimate the cost of the bill will be about $196 billion over the next 10 years. Emerson Sprick, an expert at the Bipartisan Policy Center, expressed concern about the lack of understanding of the long-term problems with Social Security.

    The Committee for a Responsible Federal Budget also warned that this change could make financial issues worse. Their president, Maya MacGuineas, stated, “We are racing to our own fiscal demise.”

    Senator Ted Cruz spoke against the bill, saying it could harm seniors who depend on Social Security. Supporters of the bill believe that they can address these financial challenges in the future. Senator Michael Bennet, who supports the bill, mentioned that these are complex issues that need to be worked on together.

  • Oil Prices Steady Amid Mixed Signals: What’s Driving the Market?

    Oil Prices Steady Amid Mixed Signals: What’s Driving the Market?

    Oil prices are staying the same lately, but there are different signs about what could happen next. Some good news came from strong demand for oil in the U.S. and Europe, meaning more people and businesses need it. This could keep prices up.

    But there are also concerns. For example, there are worries that the global economy might slow down. If people spend less money, they might not buy as much oil. This uncertainty causes mixed feelings among investors, making oil prices not change much.

    Additionally, there are factors from other countries. The ongoing war in Ukraine is affecting supplies, which can also impact prices. On the other hand, countries like Saudi Arabia and Russia have made deals to control how much oil they sell, which can keep prices stable.

    In short, while some signs are positive, others raise questions. This mix keeps oil prices steady right now as everyone waits to see what will happen next

  • Foreign Investors Boost Financials and IT While Pulling Back on Oil

    Foreign Investors Boost Financials and IT While Pulling Back on Oil

    In the first half of December, foreign investors were very active, putting a lot of money into three main areas: financial services, IT (information technology), and real estate (like homes and commercial properties). They invested ₹7,424 crore in financial services, ₹6,754 crore in IT companies, and ₹4,689 crore in real estate.

    However, not all sectors were popular. These investors sold off ₹5,337 crore worth of oil and gas stocks, ₹1,823 crore in auto stocks (like cars and trucks), and ₹1,655 crore in fast-moving consumer goods (FMCG) shares (like everyday items you buy at the store).

    Overall, foreign investors were net buyers, meaning they bought more shares than they sold, totaling ₹22,766 crore in the first two weeks of December. After experiencing some sell-offs in November, investors are now showing more interest in the telecom (like phones and internet) and services sectors, with investments of ₹627 crore and ₹553 crore, respectively, in early December.

    Looking at the whole year, the oil and gas sector had the highest amount of money pulled out by foreign investors, totaling ₹50,851 crore in 2024. Financial services also faced significant withdrawals, with almost ₹54,000 crore pulled out.

  • U.S. Stocks Rally After Positive Inflation Report: What You Need to Know

    U.S. Stocks Rally After Positive Inflation Report: What You Need to Know

    U.S. stocks went up on Friday after a tough week, thanks to a good inflation report and some soothing comments from the Federal Reserve (the Fed). The latest report showed that prices went up by 2.4% in November compared to the year before, which is a bit better than what experts expected. People are still spending money, which is a sign that the economy is doing okay. After this news, investors started to think the Fed might cut interest rates sooner than they thought, likely starting in March 2025.

    Earlier in the week, the Fed had announced its third interest rate cut of the year but said there would only be two more cuts next year instead of four. This made investors nervous at first, causing stocks to drop. On Friday, however, things turned around: with every major stock index going up, the Dow Jones rose by nearly 500 points, marking its best day since November 6.

    Despite the Friday bounce, all three major U.S. indexes dropped for the week. The tech-heavy Nasdaq was particularly affected, ending a four-week streak of gains. All groups of stocks went up in Friday’s rally, with real estate leading the way. Small companies, measured by the Russell 2000 index, also saw their stocks rise.

    Investors were also keeping an eye on the U.S. Congress, which was rushing to prevent a partial government shutdown. Overall, many more stocks went up than down on the New York Stock Exchange and the Nasdaq. Friday saw a lot of trading activity, partly because of the end of some stock contracts, known as triple witching, where 21.58 billion shares changed hands.

  • Cold Wave Hits North India: Stay Warm and Safe!”

    Cold Wave Hits North India: Stay Warm and Safe!”

    The India Meteorological Department (IMD) has warned that a cold wave will affect parts of Himachal Pradesh and Rajasthan until December 24. From December 20 to 24, cold conditions can be especially strong in Himachal Pradesh. After that, on December 25 and 26, some colder areas will still feel a chill.

    The IMD also reported that cold wave conditions are expected in Punjab and Rajasthan on December 21 and 22. People in these areas should be ready for very cold weather!

    Fog has been a big problem too, with thick fog likely in some parts of Himachal Pradesh and East Rajasthan until December 22. Recent days have seen biting cold in Punjab and Haryana. Faridkot, for example, reached a chilly 2 degrees Celsius on December 19.

    In Pathankot, Punjab, the minimum temperature dropped to 4 degrees Celsius. Meanwhile, the towns of Bathinda and Gurdaspur both felt the cold with temperatures around 4.6 and 4 degrees Celsius, respectively.

    Haryana is not warming up either. The coldest place there was Sirsa, which saw a low of 4.2 degrees Celsius. Hisar was chilly at 5.6 degrees, and Karnal felt it too at 6.8 degrees. Bhiwani reported a low of 6.9 degrees Celsius.

    In Kashmir, the weather was even colder. Srinagar recorded its coldest night this season, dropping to -6.2 degrees Celsius, just a bit lower than -6 degrees the night before. The weather team has said that dry weather will continue until December 26 but light snowfall is possible in higher areas overnight on December 21-22.

  • Missile Fired from Yemen Hits Near Tel Aviv, 3 Injured

    Missile Fired from Yemen Hits Near Tel Aviv, 3 Injured

    On Saturday, Israel’s military announced it couldn’t stop a missile that was fired from Yemen. This missile fell close to Tel Aviv, injuring three people lightly.

    The Israeli military shared on Telegram that after alarms went off in central Israel, they identified the missile but were unable to intercept it. Yemen’s Huthi rebels, who are supported by Iran, have been launching missiles at Israel since the Gaza conflict started over a year ago. Most of these missiles have been stopped in the air.

    In response to these attacks, Israel has targeted various locations in Yemen, including ports and energy facilities controlled by the Huthis.

    Israeli police reported that the missile landed in an area within the Tel Aviv district. Israel’s emergency medical service confirmed that three people went to the hospital with minor injuries, while several others received treatment for shock after the incident.

  • Rahul Gandhi Faces Charges After Parliament Fight: Here’s the Story

    Rahul Gandhi Faces Charges After Parliament Fight: Here’s the Story

    On Friday, the Delhi Police moved the case against Congress leader Rahul Gandhi to the Crime Branch. This is after he was accused of hurting BJP MPs during a fight at the Parliament. The clash happened when members from the NDA and INDIA blocs were trying to enter the house for a protest about disrespecting BR Ambedkar.

    Two BJP MPs, Pratap Chandra Sarangi and Mukesh Rajput, got hurt in the incident and even had to go to the hospital. The BJP claims Rahul pushed them while trying to enter, but Rahul says it was the BJP MPs who threatened and blocked him. He believes they are making these accusations to divert attention from the Adani Group being criticized in the U.S.

    An FIR (First Information Report) against Rahul was filed for various charges, including causing injury and using criminal force. It was registered at the Parliament Street Police Station. Congress also filed a complaint because they say BJP MPs treated Congress leader Mallikarjun Kharge badly.

    A senior police officer mentioned that they will look at video footage of what happened and have also received the Congress complaint. Doctors said the BJP MPs were recovering well after their treatment.

    Priyanka Gandhi Vadra, Rahul’s sister, spoke out, saying that these police efforts show the BJP is feeling desperate. She mentioned that the BJP keeps filing new cases against Rahul as a way to distract everyone.

  • Piramal Enterprises Plans Rs 2,000 Crore Fundraise and Business Update”

    Piramal Enterprises Plans Rs 2,000 Crore Fundraise and Business Update”

    Piramal Enterprises has decided to raise up to ₹2,000 crore by selling Non-Convertible Debentures (NCDs) worth ₹1,000 each. This was approved by the company’s board on December 20, 2023, and the news was shared after the stock market closed.

    Today, Piramal shares dropped to ₹1,090.25, which is a decrease of ₹32.30 or 2.88% from yesterday’s price. Over the last year, the shares have gone up by 23%, and so far in 2024, they have shown a 17% increase. This is better than the Nifty index, which has risen by 11% in the past year and 8% this year.

    Right now, Piramal shares are below the 50-day average price of ₹253.3 but above the 52-day average of ₹187. Key indicators show that the stock is neither too hot nor too cold: the Money Flow Index (MFI) is at 58, and the Relative Strength Index (RSI) is at 46. An RSI above 70 means a stock is overbought, while below 30 means it’s oversold.

    For the quarter ending September 30, 2023, Piramal reported a revenue of ₹2,302.9 crore, up from ₹1,960.6 crore compared to the same time last year. The company’s net profit for Q2FY25 was ₹22.6 crore, improving from ₹5 crore a year earlier.

    Piramal Group is a large global business with interests in pharmaceuticals, financial services, and real estate. They have offices in more than 30 countries and operate in over 100 markets with a workforce of 10,000 people from 21 different countries.

    Note: The views expressed here are not those of NiftyStat.

  • Major Investments from Goldman Sachs & Citigroup in Amber Enterprises”

    Major Investments from Goldman Sachs & Citigroup in Amber Enterprises”

    On Friday, big names in finance, like Goldman Sachs and Citigroup, bought shares of a company called Amber Enterprises. They spent around Rs 210 crore in total. Other investors, including Axis Mutual Fund, Mahindra Manulife Mutual Fund, Tata AIA Life Insurance, and ICICI Prudential Life Insurance, also bought shares through separate deals on the stock market.

    Together, these companies purchased 3.45 lakh shares, which is about 1.02 percent of Amber Enterprises. They bought each share for an average price of Rs 6,075, making the total amount spent close to Rs 209.86 crore.

    Meanwhile, a company named Ascent Investment Holdings sold some of its shares at the same price. After all this trading, the price of Amber Enterprises’ shares went up slightly, ending the day at Rs 6,100 each.